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Residual Value

In accounting, an estimate of the value of an asset at the end of its depreciation. For example, a firm's computer depreciates each year. When it breaks down or becomes obsolete, it has a residual value; it is calculated by the best guess of the net cash inflow when it is sold at the end of its life. It will never be above the blue book value.

In price regulated industries, the residual value may be a negative value because it includes the net cash outflow in removing the asset from where it was used. For example, nuclear energy plants must store the nuclear waste at the end of their useful life. This cost is a contributing factor in the residual value. It is also called the salvage value or scrap value. See also: Absolute Physical Life, Obsolescence.

scrap

seriously defective or damaged components or products that are rejected by a firm's QUALITY CONTROL system as incapable of being rectified and which have to be disposed of for the salvage value of their materials.
References in periodicals archive ?
Due to its consistent chemical composition and density, pig iron is considered a superior product and typically trades at a premium to scrap iron.
The pirates attacked the ship on Monday, 620 miles off Somalia, as the crew was hauling scrap iron to Vietnam on a journey that had begun on September 20 in Liver pool.
The pirates attacked the ship on Monday, 620 miles off Somalia, as the crew were hauling scrap iron to Vietnam on a journey that had begun on September 20 in Liverpool.
Created by Indonesian artisans, the collection features a variety of reclaimed materials and boat wood fused with scrap iron and recycled denim.
The spokesman said security forces confiscated more than 60 tons of scrap iron, wood, old furniture and other goods that were then transported to incinerators.
Sources told the AA that, after several iron factories went into maintenance, exports of iron to Iraq increased, the construction sector became attractive and the prices of scrap iron went up, the overall price of iron in Turkey continued to rise recently.
Georgievski added that each piece of scrap iron is controlled at the fabric's entrance and exit, but there are also such items that contain explosive charge.
As far as I am concerned, the Angel of the North is the most over-rated piece of scrap iron in the North East today.
Hussein Mansour, official in charge of sales at Al Mutawally Steel Products Com- pany, said that prices of scrap iron prod- ucts (12, 14, 16 mm sizes) rose to SR 2200 from SR 1800.
Instead we have some moron who is so immensely rich that he thinks nothing of wasting thousands on a piece of scrap iron.
David Cooper of Cooper Metal Recycling in East Moors Road, Cardiff, said scrap iron had been selling for pounds 250 a tonne, but exporters and steel mills were now only willing to pay pounds 25 a tonne.
The price of steel bars has fallen to just a quarter of peak levels, copper is worth half as much and scrap iron prices arenowat just 10% of their peak levels, according to Mr Cooper.